How do the Bulls have a B plus when they have the 3rd best record in the East and have been without their superstar all year? How do the Lakers have a C minus when they have been under-performing the whole season and are currently out of the playoffs?

Unless you've come out from day one and announced that you are a rebuilding team, or your team has been decimated by injuries, a team not in the playoffs deserves an F. The overwhelming majority of teams in the league before the season starts believe that they are a playoff team. If you believe you're a playoff team and you don't make the playoffs, you've failed. Plain and Simple

They are several games under .500 but consider the massive amount of injuries and they even had their coach out of action for a few weeks. They should have beaten Washington and Charlotte last week but I would give them a B- when you think about how strong they started and have dealt with the shuffled line up. I won't get into hypotheticals but they are doing more with less.

Celtics, D. They have talent like the Jet and Green that have underperformed, as they have done as a team as well
Nets, C+. With Deron and Joe underperforming, injuries to Book and the Avery firing, I think their year has been way too up and down and they could be better.
Bobcats should get somewhere around a c- man. Where they were last year and how they started off this one has been, gotta give them a little credit.
Bulls, A+. Can't believe where they're at without DRose. Very impressive and props to the whole organization.
Mavs, D. How can you rank them that high? They've had a rough year and their personnel moves do not look very good (besides Mayo i guess)
Rockets, B+. Harden and Asik look like great moves and I would not want to see them in the playoffs.
Warriors a resounding A+. Great year for them at the mid point and Bogut and Lee are going to be scary good.
Lakers, seriously? Only because of recent play would I bump them up to a D.
Heat, B-. They are not performing at the level they could. Their front court is not pretty.
TWolves, F. It's only because of injuries but for a team coming in expecting the playoffs, they are not in good shape.
Magic, B. Given the talent on that roster, they have done well. They bring it everynight and have looked like the winners of the Dwight trade so far.
6ers, D and they only get this high because of Jrue and Evan Turner.
Suns, F. Organization is in complete disarray. Beasley looks like a terrible signing. No identity on this squad.
Blazers, A-. This team should not be in contention. They have no bench but Lillard, JJ and Batum have been absolutley exceptional with LA doing his thing. Great coach job by Stotts as well.
Kings, F-. (See Suns)
Raptors, D. Once again, a team that wanted to be in playoff contention that is just not very good. Injuries have hurt too.